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    Market Research Notes: Primary Vs Secondary Research

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    Tr. Ryan Asturias
    Market research involves gathering information about consumer needs and preferences to understand why consumers buy products. It studies factors like consumer behavior and how cultural, societal and personal factors influence purchases. Primary research directly studies customers through surveys or interviews, while secondary research analyzes existing information collected by others. Market research seeks to describe target customers, their buying habits related to a product, their motivations for purchase, and how a business can differentiate itself.

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    Market Research Notes: Primary Vs Secondary Research

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    Tr. Ryan Asturias
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    Market research involves gathering information about consumer needs and preferences to understand why consumers buy products. It studies factors like consumer behavior and how cultural, societal and personal factors influence purchases. Primary research directly studies customers through surveys or interviews, while secondary research analyzes existing information collected by others. Market research seeks to describe target customers, their buying habits related to a product, their motivations for purchase, and how a business can differentiate itself.

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    Market research involves gathering information about consumer needs and preferences to understand why consumers buy products. It studies factors like consumer behavior and how cultural, societal and personal factors influence purchases. Primary research directly studies customers through surveys or interviews, while secondary research analyzes existing information collected by others. Market research seeks to describe target customers, their buying habits related to a product, their motivations for purchase, and how a business can differentiate itself.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    26 views2 pages

    Market Research Notes: Primary Vs Secondary Research

    Uploaded by

    Tr. Ryan Asturias
    Market research involves gathering information about consumer needs and preferences to understand why consumers buy products. It studies factors like consumer behavior and how cultural, societal and personal factors influence purchases. Primary research directly studies customers through surveys or interviews, while secondary research analyzes existing information collected by others. Market research seeks to describe target customers, their buying habits related to a product, their motivations for purchase, and how a business can differentiate itself.

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    Market Research Notes

    ____________________________

     The action or activity of gathering information about consumers’ needs and preferences

     Aims to understand the reasons consumers will buy your product

     It studies such things as consumer behavior, including how cultural, societal and personal factors
    influence that behavior.

    Primary vs Secondary Research


     Primary research studies customers directly, whereas secondary research studies information
    that others have gathered about customers.

     What are some examples of primary research?

     What are some examples of secondary research?

    The Basic Questions


    In your groups, think of 4 Basic questions that market research attempts to answer?
    4 Basic Questions
    _______________________________________________________________

     Describe them in terms of age, occupation, income, lifestyle, educational attainment, etc.

    _______________________________________________________________

     Describe their buying habits relating to your product or service, including how much they buy,
    their favored suppliers, the most popular features and the predominant price points.

    _______________________________________________________________

     This is the tricky one, attempting as it does to delve into consumers’ heads. Answers will depend
    on the product and its uses. Cookware buyers may buy the products that offer the most
    effective nonstick surfaces, or those that give the most pans in a package for a given amount of
    money, or those that come in the most decorative colors.

    _______________________________________________________________

     you want your business plan to differ from that of the last entrepreneur in your field.

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